① U.S. stocks plunged at Friday’s close amid inflation-driven trading (oil prices above $100, 10-year yield at 5.125%, gold at $4,211); ② Geopolitical tensions in the Middle East escalated and then eased over the weekend (tanker attacked → Iran declared the Strait of Hormuz "closed" → then proposed a "7-day navigation plan"); ③ Institutional signals diverged over the weekend (CITIC sees AI correction nearing its end vs. Capital Economics bearish on gold). Monday’s open will deliver a three-way verdict.
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